Bulgaria's Sopharma raises 14 mln euro in capital increase

A total of 35 warrant holders exercised their rights and subscribed for some 6.5 million new company shares between February 2 and February 23, Sopharma said in a bourse filing earlier this week.

The company offered to its warrant holders up to 7.13 million new shares with a par value of 1 lev apiece at an issue price of 4.13 levs each.

Sopharma issued in 2022 some 44.93 million warrants, each giving their owner the right to subscribe for one share at 4.13 levs in a future capital hike within three years of issuance. The company previously increased its capital in this way in October, raising 156.1 million levs.

As of 1500 CET on Friday, Sopharma shares traded 1.30% higher at 6.24 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)